Your favorite team could earn you credit card rewards

If you want a rewards credit card that features your favorite professional sports team — the champion Chicago Blackhawks or the Bears, Bulls, Cubs or White Sox — current offers are better than they've ever been, according to comparison site CreditCards.com.

Credit cards featuring NFL, MLB, NBA or NHL teams used to focus on rewards like 20 percent off purchases at the league's online store. But as the business has grown more competitive for credit card issuers, it's become more rewarding for consumers.

The team cards now rival the best cash-back cards, which have become the benchmark because that's what people want, said Matt Schulz, senior industry analyst with CreditCards.com.

"It's clear the card issuers have realized that people would rather have cold, hard cash than a Jonathan Toews or Duncan Keith jersey," Schulz said, citing two Blackhawks stars.

Among the deals this summer are the NHL team cards, which offer 5 percent cash back on purchases at home improvement stores, department stores and Amazon.com, and 1 percent back on everything else.

The MLB cards always offer 3 percent back on gas purchases, 2 percent back on groceries and 1 percent on everything else.

The NBA card offers 2 percent back on gas and groceries, and 1 percent on everything else.

The NFL offers bonus rewards, 2 percent back, only on NFL and team purchases, with 1 percent on everything else.

Three of the four major leagues, NFL, MLB and NBA, are offering sign-up bonuses — $100 for new cardholders who spend $500 on the card within the first three months. The NHL is also offering a bonus, but on the back end — after one year, it will double the rewards new card members earned in the previous year.

None of the leagues is currently charging an annual fee for their cards, but an NBA special offer for no annual fee expires Aug. 31, after which the annual fee is $50.

If you carry a balance, interest rates on these cards are competitive, and below the national average if you have good credit, CreditCards.com said. The highest rates are in line with the national average for people with bad credit. However, the rates can vary widely based on your credit rating.

As with all rewards cards, they are generally best for people who pay off their balances in full every month — although the NFL card offers zero percent balance transfers for 15 months.

"Job one with any credit card really, but especially with rewards cards, is to pay off the balance every month. Otherwise, the math can work against you pretty quickly," Schulz said, adding that finance charges will outpace rewards.

Each league is associated with a different brand of card. The NBA is American Express, the NFL is a Barclay's Signature Visa, MLB is Bank of America MasterCard and NHL is Discover.